HF Sinclair all set to rise 60% in Wave 3ABOUT COMPANY:
HF Sinclair Corporation (HF Sinclair) is a diversified, innovative energy company that manufactures and sells products such as gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, and specialty and modified asphalt, among others.
HF Sinclair also owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington and Wyoming and markets its refined products principally in the Southwest U.S. and Rocky Mountains, extending into the Pacific Northwest and in other neighboring Plains states.
In addition, HF Sinclair produces base oils and other specialized lubricants in the U.S., Canada and Netherlands and exports products to more than 80 countries.
ABOUT THE CHART:
The stock was seen rising in an impulsive 'wave 1' structure from the bottom of May 2023.The impulse ended in Sep 2023 and was followed by a corrective 'wave 2' through Sep-Dec period.
Wave 2 retraced 38.2% of wave 1.
Between 12th-20th Dec the stock again produced another impulse that can be labeled as wave i of wave 3.
The final projected target for wave 3 is expected to the $80-85 which provides a good 60%+ upside potential from CMP. The stock is expected to complete the wave 3 with help of sub-dividing minor waves.
On the down $51 can be considered as a crucial support and hence be also used as a "sl".
